Latest news with #EmmaReynolds
Yahoo
17-07-2025
- Business
- Yahoo
London weighs changes to IPO rules to attract foreign capital
London plans to roll out a 'concierge service' for international companies and is reviewing its IPO rules in a bid to court foreign capital and keep homegrown firms in the UK, a British finance minister said. The remarks by UK Economic Secretary to the Treasury Emma Reynolds came a day after Chancellor Rachel Reeves outlined plans to loosen regulations on financial services and, potentially, purge red tape across the broader economy. 'We want companies to start here, scale here, stay here to list,' Reynolds told journalists on Wednesday. Even as she insisted London remained a 'leader' when it came to public listings specifically, and capital markets generally, she acknowledged that the British capital faced 'more intense global competition than previously,' from New York exchanges as well as Asian markets. 'We think that competition is good… It keeps us all on our toes.' Indeed, London faces challengers from both west and east when it comes to luring — and retaining — major public listings, a contest it appears to be losing: The CEO of AstraZeneca, Britain's biggest company by market capitalization, wants to move its stock market listing to the US, The Times of London reported this month, while the Chinese retailer Shein has confidentially filed IPO documents in Hong Kong in order to pressure UK regulators to accelerate their listing process, according to the Financial Times. — Prashant Rao
Leader Live
15-07-2025
- Business
- Leader Live
Chancellor's Leeds Reforms to put money in people's pockets
In the Chancellor's Leeds Reforms, Rachel Reeves has unveiled a package of reforms to the UK's financial system set to be the biggest in a decade, aimed at delivering economic growth and spurring on retail investing. Changes include reforming the bank ring-fencing regime and reducing red tape in the City in order to reintroduce 'informed risk-taking' into the financial system, the Government said. The Chancellor said the 'Leeds reforms', unveiled in the West Yorkshire city, 'represent the widest set of reforms to financial services for more than a decade'. New measures are intended to help drive increased levels of investment among both financial firms and individuals. The Treasury said the ring-fencing regime – which was brought in after the 2008 financial crisis to separate banks' retail and investment banking activities – will be reformed. Economic Secretary Emma Reynolds will lead a review into how changes can strike the right balance between growth and stability, including protecting consumers' deposits, it said. Britain is a global outlier in enforcing ring-fencing, and major banks have been divided over whether the system is necessary to protect savers or is overly burdensome. The Treasury said it was backing regulatory reforms for mid-sized banks to free up money for lending and investment. Furthermore, the plans include cutting layers of red tape for businesses in the City. This will see the UK's Financial Ombudsman Service – which settles complaints between consumers and businesses – modernised and simplified to help create a more predictable system and prevent consumer compensation being delayed. It will also speed up changes to the senior managers regime, which was also brought in after the 2008 crisis to vet individuals before they are appointed and hold them accountable for problems and risk-taking. The Government said it will radically streamline the current regime and cut the burden on firms in half. The Leeds Reforms - named after one of our financial services' hubs and a city I'm proud to represent - will deliver the biggest package of reforms to financial services regulation in a decade. Kickstarting economic growth and putting more pounds in people's pockets. Cuts to City red tape sit alongside efforts to boost the level of investment among individuals. This includes rolling out 'targeted support' from April next year, whereby banks can alert customers with cash sitting in low-return current accounts about investment opportunities. Major banks and financial firms including Barclays, Lloyds, Vanguard and Hargreaves Lansdown are backing a new advertising campaign highlighting the benefits of investing. Risk warnings on investment products could also potentially be watered down as part of a review into possible barriers to investing. The Government also said it will continue to consider reforms to ISAs and savings to strike the right balance between cash savings and investment. Ms Reeves was widely expected to leave cash ISAs untouched in the measures announced on Tuesday (July 15), following speculation that she was planning to cut the annual tax-free allowance in a bid to spark more investment instead. 'We are fundamentally reforming the regulatory system, freeing up firms to take risks and to drive growth,' Ms Reeves told finance chiefs when setting out the reforms in Leeds. Recommended reading: HMRC urging parents to claim £2,000 tax-free childcare HMRC Child Benefit changes with opt-in campaign for parents More than half a million more savers to benefit from HMRC cash - apply today Adam French, consumer expert at says: 'It is encouraging to see steps being taken to make retail investing a less daunting proposition by plugging the advice gap and empowering firms to give more targeted support while maintaining appropriate safeguards. But it is only part of the puzzle. 'It is also essential that we avoid a return to the low interest rates of the past decade which had a significant and often overlooked side effect: skewing investment priorities by driving capital into property instead of more productive areas of the economy. For the Leeds Reforms to work it must be the case that backing the next generation of British businesses looks safer and more rewarding than property speculation.' Brian Byrnes, head of personal finance at Moneybox, adds: "It is encouraging to see steps being taken to support first-time buyers. Enabling people to borrow more is not a silver bullet. What first-time buyers truly need is not just the ability to take on more debt, but meaningful, long-term support to help them start saving and investing earlier in life so they can build up that all-important deposit." Sarah Coles, head of personal finance for Hargreaves Lansdown, also comments: 'It's incredibly positive to see Rachel Reeves take some key steps towards closing the UK's yawning retail investment gap. 'There will be a new era of investment with the advent of new rules allowing companies to offer targeted support to their clients, alongside changes to risk warnings so they actively help retail investors understand their options rather than standing in their way of harnessing the incredible power of investment.'
Glasgow Times
15-07-2025
- Business
- Glasgow Times
Chancellor's Leeds Reforms to put money in people's pockets
Changes include reforming the bank ring-fencing regime and reducing red tape in the City in order to reintroduce 'informed risk-taking' into the financial system, the Government said. In the Chancellor's Leeds Reforms, Rachel Reeves has unveiled a package of reforms to the UK's financial system set to be the biggest in a decade, aimed at delivering economic growth and spurring on retail investing. The Chancellor said the 'Leeds reforms', unveiled in the West Yorkshire city, 'represent the widest set of reforms to financial services for more than a decade'. New measures are intended to help drive increased levels of investment among both financial firms and individuals. The Treasury said the ring-fencing regime – which was brought in after the 2008 financial crisis to separate banks' retail and investment banking activities – will be reformed. Economic Secretary Emma Reynolds will lead a review into how changes can strike the right balance between growth and stability, including protecting consumers' deposits, it said. Britain is a global outlier in enforcing ring-fencing, and major banks have been divided over whether the system is necessary to protect savers or is overly burdensome. The Treasury said it was backing regulatory reforms for mid-sized banks to free up money for lending and investment. Furthermore, the plans include cutting layers of red tape for businesses in the City. This will see the UK's Financial Ombudsman Service – which settles complaints between consumers and businesses – modernised and simplified to help create a more predictable system and prevent consumer compensation being delayed. It will also speed up changes to the senior managers regime, which was also brought in after the 2008 crisis to vet individuals before they are appointed and hold them accountable for problems and risk-taking. The Government said it will radically streamline the current regime and cut the burden on firms in half. The Leeds Reforms - named after one of our financial services' hubs and a city I'm proud to represent - will deliver the biggest package of reforms to financial services regulation in a decade. Kickstarting economic growth and putting more pounds in people's pockets. — Rachel Reeves (@RachelReevesMP) July 15, 2025 Cuts to City red tape sit alongside efforts to boost the level of investment among individuals. This includes rolling out 'targeted support' from April next year, whereby banks can alert customers with cash sitting in low-return current accounts about investment opportunities. Major banks and financial firms including Barclays, Lloyds, Vanguard and Hargreaves Lansdown are backing a new advertising campaign highlighting the benefits of investing. Risk warnings on investment products could also potentially be watered down as part of a review into possible barriers to investing. The Government also said it will continue to consider reforms to ISAs and savings to strike the right balance between cash savings and investment. Ms Reeves was widely expected to leave cash ISAs untouched in the measures announced on Tuesday (July 15), following speculation that she was planning to cut the annual tax-free allowance in a bid to spark more investment instead. 'We are fundamentally reforming the regulatory system, freeing up firms to take risks and to drive growth,' Ms Reeves told finance chiefs when setting out the reforms in Leeds. Recommended reading: Adam French, consumer expert at says: 'It is encouraging to see steps being taken to make retail investing a less daunting proposition by plugging the advice gap and empowering firms to give more targeted support while maintaining appropriate safeguards. But it is only part of the puzzle. 'It is also essential that we avoid a return to the low interest rates of the past decade which had a significant and often overlooked side effect: skewing investment priorities by driving capital into property instead of more productive areas of the economy. For the Leeds Reforms to work it must be the case that backing the next generation of British businesses looks safer and more rewarding than property speculation.' Brian Byrnes, head of personal finance at Moneybox, adds: "It is encouraging to see steps being taken to support first-time buyers. Enabling people to borrow more is not a silver bullet. What first-time buyers truly need is not just the ability to take on more debt, but meaningful, long-term support to help them start saving and investing earlier in life so they can build up that all-important deposit." Sarah Coles, head of personal finance for Hargreaves Lansdown, also comments: 'It's incredibly positive to see Rachel Reeves take some key steps towards closing the UK's yawning retail investment gap. 'There will be a new era of investment with the advent of new rules allowing companies to offer targeted support to their clients, alongside changes to risk warnings so they actively help retail investors understand their options rather than standing in their way of harnessing the incredible power of investment.'
South Wales Guardian
15-07-2025
- Business
- South Wales Guardian
Chancellor's Leeds Reforms to put money in people's pockets
In the Chancellor's Leeds Reforms, Rachel Reeves has unveiled a package of reforms to the UK's financial system set to be the biggest in a decade, aimed at delivering economic growth and spurring on retail investing. Changes include reforming the bank ring-fencing regime and reducing red tape in the City in order to reintroduce 'informed risk-taking' into the financial system, the Government said. The Chancellor said the 'Leeds reforms', unveiled in the West Yorkshire city, 'represent the widest set of reforms to financial services for more than a decade'. New measures are intended to help drive increased levels of investment among both financial firms and individuals. The Treasury said the ring-fencing regime – which was brought in after the 2008 financial crisis to separate banks' retail and investment banking activities – will be reformed. Economic Secretary Emma Reynolds will lead a review into how changes can strike the right balance between growth and stability, including protecting consumers' deposits, it said. Britain is a global outlier in enforcing ring-fencing, and major banks have been divided over whether the system is necessary to protect savers or is overly burdensome. The Treasury said it was backing regulatory reforms for mid-sized banks to free up money for lending and investment. Furthermore, the plans include cutting layers of red tape for businesses in the City. This will see the UK's Financial Ombudsman Service – which settles complaints between consumers and businesses – modernised and simplified to help create a more predictable system and prevent consumer compensation being delayed. It will also speed up changes to the senior managers regime, which was also brought in after the 2008 crisis to vet individuals before they are appointed and hold them accountable for problems and risk-taking. The Government said it will radically streamline the current regime and cut the burden on firms in half. The Leeds Reforms - named after one of our financial services' hubs and a city I'm proud to represent - will deliver the biggest package of reforms to financial services regulation in a decade. Kickstarting economic growth and putting more pounds in people's pockets. Cuts to City red tape sit alongside efforts to boost the level of investment among individuals. This includes rolling out 'targeted support' from April next year, whereby banks can alert customers with cash sitting in low-return current accounts about investment opportunities. Major banks and financial firms including Barclays, Lloyds, Vanguard and Hargreaves Lansdown are backing a new advertising campaign highlighting the benefits of investing. Risk warnings on investment products could also potentially be watered down as part of a review into possible barriers to investing. The Government also said it will continue to consider reforms to ISAs and savings to strike the right balance between cash savings and investment. Ms Reeves was widely expected to leave cash ISAs untouched in the measures announced on Tuesday (July 15), following speculation that she was planning to cut the annual tax-free allowance in a bid to spark more investment instead. 'We are fundamentally reforming the regulatory system, freeing up firms to take risks and to drive growth,' Ms Reeves told finance chiefs when setting out the reforms in Leeds. Recommended reading: HMRC urging parents to claim £2,000 tax-free childcare HMRC Child Benefit changes with opt-in campaign for parents More than half a million more savers to benefit from HMRC cash - apply today Adam French, consumer expert at says: 'It is encouraging to see steps being taken to make retail investing a less daunting proposition by plugging the advice gap and empowering firms to give more targeted support while maintaining appropriate safeguards. But it is only part of the puzzle. 'It is also essential that we avoid a return to the low interest rates of the past decade which had a significant and often overlooked side effect: skewing investment priorities by driving capital into property instead of more productive areas of the economy. For the Leeds Reforms to work it must be the case that backing the next generation of British businesses looks safer and more rewarding than property speculation.' Brian Byrnes, head of personal finance at Moneybox, adds: "It is encouraging to see steps being taken to support first-time buyers. Enabling people to borrow more is not a silver bullet. What first-time buyers truly need is not just the ability to take on more debt, but meaningful, long-term support to help them start saving and investing earlier in life so they can build up that all-important deposit." Sarah Coles, head of personal finance for Hargreaves Lansdown, also comments: 'It's incredibly positive to see Rachel Reeves take some key steps towards closing the UK's yawning retail investment gap. 'There will be a new era of investment with the advent of new rules allowing companies to offer targeted support to their clients, alongside changes to risk warnings so they actively help retail investors understand their options rather than standing in their way of harnessing the incredible power of investment.'
The Herald Scotland
15-07-2025
- Business
- The Herald Scotland
Chancellor's Leeds Reforms to put money in people's pockets
The Chancellor said the 'Leeds reforms', unveiled in the West Yorkshire city, 'represent the widest set of reforms to financial services for more than a decade'. New measures are intended to help drive increased levels of investment among both financial firms and individuals. The Treasury said the ring-fencing regime – which was brought in after the 2008 financial crisis to separate banks' retail and investment banking activities – will be reformed. Economic Secretary Emma Reynolds will lead a review into how changes can strike the right balance between growth and stability, including protecting consumers' deposits, it said. Britain is a global outlier in enforcing ring-fencing, and major banks have been divided over whether the system is necessary to protect savers or is overly burdensome. The Treasury said it was backing regulatory reforms for mid-sized banks to free up money for lending and investment. Furthermore, the plans include cutting layers of red tape for businesses in the City. This will see the UK's Financial Ombudsman Service – which settles complaints between consumers and businesses – modernised and simplified to help create a more predictable system and prevent consumer compensation being delayed. It will also speed up changes to the senior managers regime, which was also brought in after the 2008 crisis to vet individuals before they are appointed and hold them accountable for problems and risk-taking. The Government said it will radically streamline the current regime and cut the burden on firms in half. The Leeds Reforms - named after one of our financial services' hubs and a city I'm proud to represent - will deliver the biggest package of reforms to financial services regulation in a decade. Kickstarting economic growth and putting more pounds in people's pockets. — Rachel Reeves (@RachelReevesMP) July 15, 2025 Cuts to City red tape sit alongside efforts to boost the level of investment among individuals. This includes rolling out 'targeted support' from April next year, whereby banks can alert customers with cash sitting in low-return current accounts about investment opportunities. Major banks and financial firms including Barclays, Lloyds, Vanguard and Hargreaves Lansdown are backing a new advertising campaign highlighting the benefits of investing. Risk warnings on investment products could also potentially be watered down as part of a review into possible barriers to investing. The Government also said it will continue to consider reforms to ISAs and savings to strike the right balance between cash savings and investment. Ms Reeves was widely expected to leave cash ISAs untouched in the measures announced on Tuesday (July 15), following speculation that she was planning to cut the annual tax-free allowance in a bid to spark more investment instead. 'We are fundamentally reforming the regulatory system, freeing up firms to take risks and to drive growth,' Ms Reeves told finance chiefs when setting out the reforms in Leeds. Recommended reading: Adam French, consumer expert at says: 'It is encouraging to see steps being taken to make retail investing a less daunting proposition by plugging the advice gap and empowering firms to give more targeted support while maintaining appropriate safeguards. But it is only part of the puzzle. 'It is also essential that we avoid a return to the low interest rates of the past decade which had a significant and often overlooked side effect: skewing investment priorities by driving capital into property instead of more productive areas of the economy. For the Leeds Reforms to work it must be the case that backing the next generation of British businesses looks safer and more rewarding than property speculation.' Brian Byrnes, head of personal finance at Moneybox, adds: "It is encouraging to see steps being taken to support first-time buyers. Enabling people to borrow more is not a silver bullet. What first-time buyers truly need is not just the ability to take on more debt, but meaningful, long-term support to help them start saving and investing earlier in life so they can build up that all-important deposit." Sarah Coles, head of personal finance for Hargreaves Lansdown, also comments: 'It's incredibly positive to see Rachel Reeves take some key steps towards closing the UK's yawning retail investment gap. 'There will be a new era of investment with the advent of new rules allowing companies to offer targeted support to their clients, alongside changes to risk warnings so they actively help retail investors understand their options rather than standing in their way of harnessing the incredible power of investment.'
